Kingswood Wealth Advisors LLC Sells 1,141 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Kingswood Wealth Advisors LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 29.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,682 shares of the financial services provider’s stock after selling 1,141 shares during the period. Kingswood Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Loomis Sayles & Co. L P boosted its holdings in The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 50 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares during the period. MFA Wealth Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC increased its position in shares of The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after buying an additional 56 shares during the period. Finally, Altman Advisors Inc. raised its stake in The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 56 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. Piper Sandler lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Barclays lifted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the sale, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock valued at $6,021,569 over the last 90 days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $202.29 on Thursday. The stock has a 50-day moving average price of $200.14 and a 200 day moving average price of $189.26. The stock has a market capitalization of $80.26 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.